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Delano sits in the heart of Kern County's agricultural economy. A lot of borrowers here run their own operations — farming, trucking, food distribution.
Tax returns rarely show what these borrowers actually earn. A P&L loan skips the tax return and uses a CPA-prepared statement to verify income instead.
680+
Min Credit Score
10-20%
Down Payment
12-24 months
P&L History
Yes — licensed only
CPA Required
Profit & Loss Statement Loans in Delano
Your CPA prepares a 12- or 24-month profit and loss statement. The lender uses that to calculate your qualifying income — not your Schedule C.
Most lenders want a 680+ credit score and 10-20% down. The P&L must be signed and dated by a licensed CPA, not self-prepared.
Retail banks don't offer P&L loans. This product lives in the non-QM wholesale space. You need a broker with access to those lenders.
SRK CAPITAL works with 200+ wholesale lenders. We know which ones accept single-year P&Ls and which require two years — that distinction matters a lot.
The biggest mistake I see: borrowers bring a P&L their bookkeeper prepared. That gets rejected immediately. It must come from a licensed CPA.
Lenders also scrutinize the P&L for consistency. If your revenue swings 40% month to month without explanation, underwriters will push back hard.
Bank statement loans use 12-24 months of deposits to verify income. P&L loans use your CPA's summary instead — less documentation, but more lender scrutiny.
If your deposits are clean and easy to trace, bank statement loans often qualify you for a higher loan amount. P&L loans work better when deposits are mixed with business expenses.
Many Delano borrowers run cash-intensive businesses — farm labor contracting, produce hauling, small retail. These businesses often show low taxable income despite strong revenue.
A P&L loan is often the only path to approval for these borrowers. Rates are higher than conventional, but the trade-off is access to financing that otherwise doesn't exist.
A licensed CPA must prepare and sign it. Bookkeepers and accountants without a CPA license don't qualify.
Some lenders accept 12 months. Others require 24. We match you to the lender whose policy fits your situation.
They use your net profit shown on the statement. Some lenders apply an expense factor and use gross revenue instead.
Yes. Non-QM loans carry higher rates due to increased lender risk. Rates vary by borrower profile and market conditions.
Most lenders require 680 or higher. A stronger score improves your rate and increases lender options significantly.
It depends on the property type. Some non-QM lenders finance rural properties — others don't. We'll check your specific parcel.